Finance Essentials for Small Business

Manage your small business successfully with these finance essentials from accounting professors Jim and Kay Stice.

Introduction

• Five characteristics of businesses that fail
• What you should know

1. Growing Your Business

• All businesses start small

2. Determining Your Capital Needs

• Startup financial needs
• Insufficient capital

3. Cash Management Basics

• Managing cash on the beach
• Prepare a cash forecast
• Estimating the number of customers
• Cash flow example

4. The Need for Record Keeping and Controls

• Poor bookkeeping impacts profits
• Record keeping
• Using controls to safeguard info and track business activity

5. Pricing Products Properly

• Pricing a consulting job
• Product pricing

6. Controlling Growth

• The USFL
• Managing growth

Conclusion

• The lost farm
• Next steps